Selling and Renting Back Your Property - Is It a Good Option

Most companies that offer sell and rent back properties are trying to make a fast buck. If you are in debt and are think selling and renting back may be the best option open to you, then think again; you are likely to get ripped off by the company that is offering the deal. You may loose

20% or more in this deal. The buy and rent back company will offer to get a surveyor and pay the surveyor costs and all other legal costs. They are then going to offer a much lower price then you would get on the market. They promise total secrecy and that the deal can be done in less then a week. They will buy your property at less than the market price and rent it back at the market rate. So either way, you are going to loose. When and if they sell the property back to you, it’s going to be at market value. So once again you loose. Also they may evict you after 6 months or a year. So, if you have to sell your house and shift to a cheaper place., then just do that and avoid sell and rent back deals.